To be at par with market and to ensure we are able to cater to the requirement of our existing clientele at prevailing market rates and to attract established units with strong financials and business model, we propose to introduce a more competitive product looking to the potentials in the market. We have now decided to introduce the scheme and interest rate of Commercial Vehicle w.e.f. 01/05/2017 as given below.

Particulars

Scheme Guidelines

Name of the scheme

KAL Commercial Vehicle Loan Scheme

Eligibility

Existing customer with proven track record of 3 years and in case of new borrower if already in the same business line and profit making for last 5 years with minimum fleet of 5 Commercial Vehicles / Road Transport Equipments / Other Utility Commercial Vehicles, satisfactory credit history of commercial vehicle borrowing and audited balance sheets for last 3 years.

Purpose

The purpose of credit facility under the scheme shall be term loan for the purchase of only new Commercial Vehicles , Road Transport Equipments and Other Utility Commercial Vehicles .

Proof of activity

The applicant enterprise must be in possession of registration / licenses, as applicable under local law e.g. Shop Establishment act, Sales Tax Registration, Road Permits, IT Returns or any other relevant permission / license from RTO.